Key Notes
- Ripple and Chipper Cash have announced partnership, expanding the former’s presence in Africa.
- The partnership will result in faster, cheaper, and efficient settlements for customers.
- “We’re enabling faster, more affordable cross-border payments,” said a Ripple executive
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Ripple is expanding into Africa through a partnership with Chipper Cash, a leading payment provider, to enable crypto-based cross-border payments.
This collaboration is set to revolutionize remittance and payments across the continent by offering faster, cheaper, and more efficient settlements.
Empowering Africa’s Cross-Border Transactions
According to the official announcement on March 27, Chipper Cash will integrate Ripple Payments into its platform, allowing consumers across nine African countries to receive funds from anywhere in the world seamlessly.
This partnership aims to significantly reduce the time and friction of moving money into Africa, making international transactions faster and more accessible.
Ripple’s Continued Expansion in Africa
Ripple has been actively expanding its footprint in Africa, starting with its partnership with Onafriq in 2023.
The company’s digital asset infrastructure is positioned to provide financial institutions with secure, compliant, and efficient solutions for tokenization, storage, and cross-border fund transfers.
By leveraging Ripple’s blockchain technology, Chipper Cash aims to enhance financial inclusion and streamline international money transfers for its five million users, reinforcing Africa’s potential to become an important digital asset hub.
Ripple’s Regulatory Victory and Future Ambitions
Ripple’s partnership with Chipper Cash follows its recent legal victory over the United States Securities and Exchange Commission (SEC), which had accused the company of raising $1.3 billion through unregistered securities offerings.
With the case now settled, Ripple CEO Brad Garlinghouse sees significant market opportunities ahead.
“You’ve got trillions of dollars that is flowing cross-border globally and is still dominated by Swift. The challenge is that the SEC has been fighting this. However, the Trump Effect is now profound, as evidenced by the adoption of these technologies,” Garlinghouse said in a recent interview, adding that “the market opportunity here is massive.”
The resolution of the legal battle has enabled Ripple to expand its services without regulatory uncertainty, further positioning it as a strong competitor to the traditional Swift payment network.
XRP Price Action Amid Partnership News
Despite the positive developments surrounding Ripple, XRP has faced downward pressure in the market. The cryptocurrency has dropped 2.58% in the past 24 hours, trading at $2.34.
Analysts warn that if XRP fails to maintain the critical $2 support level, it could experience further corrections down to $1.20.
Renowned crypto analyst Ali Martinez stressed the importance of this support level, noting that its loss could trigger a significant downturn in XRP’s price trajectory.
However, long-term investors remain optimistic that Ripple’s increasing adoption in Africa and other emerging markets will drive growth.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
